French Economy Minister Emmanuel Macron has announced the creation of an investment fund worth EUR 425 million to support projects, including those in renewable energy sector, with an aim to accelerate their transition from experimental to the industrialization stage.
The fund aims to support the competitiveness and development of industrial sectors, including the environmental and energy transition. It involves minority equity investment in project companies created in partnership with the industry.
Targeted projects are: the establishment of shared industrial sites integrating currently disjointed players, creating an equipment shared by several industries, development of such services which will allow further development of an industry, promoting an industry to enable its expansion on an international level.
The fund is financed by the Future Investment Program (AIP) with EUR 425 million and managed by Bpifrance Investment.
Offshore WIND Staff; Image: 99traveltips